FINRA BrokerCheck indicates that investors alleged sales practice violations involving securities broker William Hennion (CRD#: 2048378, Parsippany, New Jersey) and that those violations resulted in damages. Evidently, Hennion has been with Hennion Walsh since 1990 and Hennion Walsh Asset Management since 2007. Notably, he faces allegations of unsuitable recommendations and negligence. Take a look at the following summary concerning the allegations against this securities broker.
Evidently, a Hennion Walsh client complained about William Hennion on July 12, 2019. The client’s causes of action against the securities firm include unsuitable recommendations (2015 to 2018). Supposedly, the client experienced damages on municipal bonds, mutual funds, and unit investment trusts. Because of this, the securities firm opted to settle this matter by virtue of payment to the client in the amount of $260,000 in damages. Accordingly, a settlement was reached December 15, 2020.
Notably, a client of Hennion Walsh complained about William Hennion’s sales practices at Hennion Walsh, according to an investment dispute on BrokerCheck dated August 6, 2015. The investor’s dispute alleges negligence, breach of fiduciary duty, and failure to supervise. Supposedly, the client experienced damages stemming from Hennion’s sales practice violations concerning municipal bonds. Therefore, to settle this matter without admitting liability, the firm paid the client $155,935 on July 7, 2016.
Did William Hennion cause you to incur investment losses? You could touch base with Soreide Law Group at (888) 760-6552 and chat with an experienced securities lawyer about a possible recovery. Specifically, Soreide Law Group handles investor dispute cases on a contingency fee basis. Also, we advance all costs. The firm has recovered compensation for hundreds of investors in the US that experienced damages from their financial advisors or securities brokers. Please note that Hennion denies the allegations of unreasonable sales practices.
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